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and imf clash over how long greece should be given to reduce its debts. >> america's commander in afghanistan under investigation after new revelations in the cia sex scandal. >> in cairo, eu foreign ministers and members of the arab league discuss the syrian crisis. the lenders in charge of patching up the eurozone have gone head to head in a very public disagreement on the best way to deal with grease. >> at a meeting in brussels, the head of the imf and -- the heads of the imf and eurozone clashed over when greece should reduce its debt. >> but they did at least agree on a few things -- above all the grece could have at least two years to cut deficit. >> it is a question of how much progress greece can realistically be expected to make in a particular amount of time. >> greece's international lenders were playing down their differences the morning after the clash over athens' debts. the imf wants greece to achieve its lower ratio by 2020 while the eu foreign ministers want to allow the country two more years. >> there's no disagreement between the imf and the euro group, but
from around the world. 12 hours of talks but no deal. the eurozone finance manager says the imf failed to agree on how to solve greece's debt problems. the latest delay weighing on stocks in europe. >>> the fbi launches a probe into the accounting issues in the hewlitt packard autonomy deal. the former boss of the british company hit back at the accusations in a cnbc interview. >> the first we heard about it was a press release and we utterly refuse them. these are absolutely incorrect. we'd like to learn more about them. i'm afraid the details haven't been shared with us. >>> hillary clinton joins egypt in attempting to broke aerodeal between israel and hamas. strikes on gaza and rocket attacks into israel continue. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> all right, we're into hump day, the day before thanksgiving, of course, as well. on today's show, we'll have updates from athens and brussels as the eurozone ministers fail to ruse a deal for greece. air strikes and rocket fire continue in the gaza strip in tel aviv, as hillary c
more time, but the imf is calling for a hair cut meaning some investors would not get their money back. >> we will work for a solution that helps grease. >> we cannot make guarantees while we're still working on restructuring and debt. this is a standpoint we all agree on. that is what everyone said two weeks ago. >> and now may not be the time to tackle long-term questions. greece needs money fast if they want to avoid shutting down entirely. >> plenty of short-term questions out there tonight. let's cross over to brussels and find out more from jeff. another round of talks. what proposal laurell the table? >> same as ever, i'm afraid. greece immediately needs a 31.5 billion euro payout. they are overdue for the payment. the recession is worsening in the debt crisis in greece is getting worse even though they are implementing more austerity measures. we have a three quarter circus in the year. european central bank, the imf, and the eu cannot agree whether and how to pay are the latest rancho funding when greece clearly cannot meet the targets for debt reduction. of that is the issue.
to take a loss on their holdings of greek government bonds. the imf says the the only way to make grease solvent. >> the move is unpopular in a number of countries, including germany. taking a loss on a greek debt, or a hair cut, is illegal. the director of the imf will be having a talk with eurozone finance ministers. "she came to the philippines to talk about the asian economy, but even in manila, christina guard was unable to escape the eurozone debt crisis -- cristina lagard could not escape the debr crisis. the greek debt is expected to spiral to nearly 180% by the end of this year. by next year, it could be pushing 190%. the head of the imf has suggested that greece may require another write-down on its mountain of debt. >> it's a question of working hard, cutting your mind to it, making sure that we focus on the same objective, which is that the country in particular, greece, cannot continue on this unsustainable basis. >> europe is split on whether that is the right course of action. some argue agree should be given more time to get their finances in order, but doing that would c
words, different circumstances. they have to get reelected. christine lagarde is head of the imf and the imf needs to get the problem sorted out as quickly as possible regardless of political concerns. so you can see which way they're coming from here. as i say, the mnumber 120% is plucked out of the air. there already appears differences over what the current 2020 is, some are saying 14 #%. but reporting that some of the troy came members are saying this, others saying between 140 and 150. of course they do rely on quite a lot of assumptions about gross tax receipts and spending cuts. >> with a matters isn't the 2020 versus 2022 language. what they're implying is whether the official sector has to take. yesterday we heard smaghi say he thinks a maturity extension will happen. so is that going to extend to the official sector and does it have to in your view? >> made sclurity extension is the first step and what also needs to be done is to finance the extra two years on top of the greek aid program. and that can come through of course through lower interest rates, through debt bu
. it was a signal that egypt was ready to tackle to economic reform. u.s. pays billions to imf fund and i'm not sure why we should contribute to the loan. joining me is the author of the battle over islam. before we talk about egypt, get you to react to the vote in the u.n. on palestine. tell me what it means? >> if anything the timing is really bizarre, melissa. the u.n. proving how out of touch it is. hamas claiming supposedly victory when israeli finally responded appropriately to having missiles thrown at it for months of the president of egypt claiming egypt was terrorist state and claiming he brought these. state leadership in egypt but claiming regional egypt. israel is having to recognize a state-run by aterrorist organization that the united states will not even recognize because they're a terrorist group. just a very bizarre setting. >> is it bizarre or is it on purpose and very specific? >> well, it is on purpose from the u.n. it is on purpose from individuals there that want to legitimatize hamas's reaction, do this moral equivalency dance. liz: right. >> unfortunately now it is becoming
head of the i.m.f. and he was nonconsensual and they didn't like that and most europeans would agree he had to go over this because of the position he held in society. i think they're right. i would agree with sam you make a distinction based on somebody's job and how compromised they would be by what they've done. chris: or let's go another place. this is a freefall of conversation. the europeans would have said bill clinton, the problem with the grand jury testimony, it gets so immeshed. >> our leaders have to succeed on the territory they live on, right? bill clinton didn't get a chance to be judged by the french rules of the game. chris: he was judged by tom delay. >> and what's so amazing is almost no one understood the rules better than petraeus and understood exactly the environment in which he was operating and yet he still turned out to be a very different person than who most of us thought he was. >> my friend dan jenkins once wrote a is a tire cal -- satiracal, the 10 stages of drunkenness, skip dinner and number seven, i'm invincible. but particularly men in power, by the wa
, because the imf still has already been signed. he has that credit line out there. i think what's going on in egypt is that there is a struggle between -- lou: actually, this deal was reached today. they have not been funded. lou: but the deal is done. acquiescence to judgment and reason. and necessary component. >> as you correctly pointed out that europeans will not put pressure on egypt. he will get his money from the imf. the -- lou: wait a minute. let me interject. i truly believe that it is of fair statement to say, the united states will have its will with the imf and what it does in this instance. am i wrong? >> well, we will see in a couple of weeks. i think the real struggle here is between morrissey and his ideological instincts on the one hand and elements of the egyptian security structure, the military and the intelligence service on the other. despite his best efforts, still understand where there bread is buttered. so he has -- his line is less concerned with the outside economic factors than it is with dealing with the military, which still is not entirely comfortable,
's egypt's economic situation and this week, they signed a preliminary agreement with the imf to allow almost 5 billions of fresh credit come into the country and in return for that morsi is going to have to cut the subsidies that these people depend on for fuel and food and that's going to be very unpopular. in a way could be that he's trying to consolidate his powers that he could crush the decent that might be coming from that as well, but of course, he's provoking some in the short-term. >> and we know that the muslim brer hood offices many across the country have been vantlized and torched and we had one of the demonstrators talking about the concerns about this, where they go next. what do we know about those who though are upholding morsi at this point? we do know what we have with the muslim brotherhood and with him and who do we have in the wings pushing back? >> to say people are out on the streets in tahrir square and celebrated here and people who would ride, and twitter and facebook into power, that was always hopelessly romantic and the democrats are always the ones who g
states under a barrel. >> and the imf. >> and the imf and everyone else because no one wants war in the middle east command he needs a billion and a half dollars a month. lou: the imf reminding today that the good behavior will determine the course of $5 million tranche as they like to refer to this. let's turn to the united nations tomorrow, palestinian to limited palestinian. i love the expression. the united nations general assembly. is this the end of the palestinian-israeli conflict? a two-stage solution upon us? help us out here. >> the end of the palestinian-israeli conflict. we will never live that long. i think that this is just yet another little roadblock, and that think it is very important. because if the palestinians get this sort of karzai in the un are at least the ability to be on the international bodies, what they will do is start accusing israel of war crimes and israel will have to go before the bodies. lou: strong enough to stop this and the general assembly? >> not in the generrl assembly. lou: which means the palestinians have a significant propaganda. >>
the additional two years be financed? >> that's the big questions. there are lots of ideas. the imf, for instance, say it is just a hair cut. they're suggesting that a european lenders will just renounce all some of the debt payments and that european leaders are saying we cannot burden the taxpayer is any further. they're saying it's time to get created so we're probably looking at a mix of solutions, some kind of a debt restructuring and possibly the ecb paying out some of the interest. it's true that european finance ministers will have to get creative because we're not even sure how much money we're talking about. it could be an additional 33 billion euro until 2016. >> thank you very much. >> 9% of germans hold a radical right-wing political views. these are among the disturbing findings of a new study published by a left-lane and german think tank. clogs enough of it tendencies have risen dramatically in eastern germany over the past few years and the increase has been particularly strong among young people. >> racist attitudes are often the starting point for dissenting and more far right
at the conference in naples, florida where a former imf managing director. cheryl: take a look at the world currencies and how they are caring against the u.s. dollar. $1.27. the euro under pressure today. >> 21 past the hour, your fox news minute. fbi investigators searching the charlotte, north carolina home of paul law brought well last night, feds were seen carrying boxes and taking photographs inside the home of general david petraeus's alleged former mistress. fox news reported broadwell leaked classified information she could have obtained from david petraeus. the saudi arabian man found guilty of conspiring to home the dallas home of former president george w. bush sentenced to life last hour. a jury convicted the failed terrorist of attempting to use a weapon of mass destruction. the former texas tech student was arrested in texas in 2011. out $3.6 million, up platinum what formerly owned by eric clapton. the ultra rare was made in 1987. a perpetual calendar with moon phases, one of the world's ten most significant wristwatches. does your headlines. cheryl: a pair of shoes may be.
policies. back to you. >> tomorrow's euro greek meeting is likely to be a tense favor. the imf looks set to stick to its guns over the 2020 deficit deadline. christina lagarde says any financing program needs to be rooted in reality and not in wishful thinking. julia chatterley joins us live from athens. julia, tomorrow is going to be very important once again potentially for greece. are we any closer, though, to potentially reaching some type of an agreement on this two year extension? >> we seem to be getting mixed messages. they don't anticipate a write down until the circumstances are extreme, but the finance minister has said there a solution found. i think ultimately the belief here is that the cash will come through, but the key question is will actually anything have changed. i had a conversation with my taxi driver on the way from the airport last night and he said to me this is the first time actually where greece seems to have done the work that they need to do and the arguments, the wrangling is on the you're pea anxiouss and imf side. but his big question is what comes next.
the negotiations in brussels. >> eurozone finance ministers and the chief of the imf did not entirely cia wide. lagarde is opposed to the idea of giving athens two warriors together better control -- to get their debt under control. >> it would be optimistic to expect the next steps to be shrouded in college, but there's no doubt that greece has delivered. we still need to agree on some details, but i think there's a good chance we will reach agreement this evening. of course, it cannot be 100% sure. >> there were also disagreements among all the rows of finance ministers, especially about an extension to greece's budget targets. >> the plan and, as it now stands, includes a funding gap that needs to be plugged. as they did not need to plug the gap, we would not need to have the meeting. i hope we would have a proposal that suits ever won by the end of this evening. then we will presented to the national parliaments. >> the greek finance minister says he hopes to have a plan to present as early as wednesday but it will only be possible if the talks this evening or successful. "the church of en
released a statement on wednesday. he said greece did what it had to do and "our partners in the imf have a duty to do what they have taken on." he said the stability of the entire eurozone depends on the outcome of the next meeting. greece is becoming frustrated over the delay in the bailout decision. greek lawmakers approved extra austerity measures worth over 13 billion euros earlier this month. >>> let's take a check on the markets. the yen is being sold against both the dollar and the euro on speculation that japan's central bank may take additional monetary easing measures. the dollar/yen is currently 82.51-54. the euro/yen is 106.07-12. analysts say that the yen's fall is also driven by concerns over japan's reduced exports. trade balance in october marked the largest deficit on record for that month. >>> now let's take a look at how stocks are performing. tokyo share prices are recovering this thursday morning to the 9,300 level for the first time since early may. the key nikkei index at 9318. that's a gain of over 1% so far in the day. analysts say that market players are buying
creditors, and the eurozone countries and imf must keep their part of the bargain. with state bankruptcy looming, athens has issued treasury bills with shorter maturity as a way of raising cash quickly. the opposition in greece blame the prime minister but added that germany and in particular chancellor merkel were also at fault. >> mr. samaras has become an inseparable part of ms. merkel's election campaign. she cannot admit to the german people in the run-up to elections that she made a mistake, that she is responsible for the coming recession and that the greek debts must be cut. >> the german finance minister continues to reject that option. he says he was confident that an agreement would be reached when eurozone ministers meet next week. >> chancellor angela merkel said there was no easy solution to the problems in athens, but she said she was confident that eurozone finance ministers would release that next round of bailout money next week. >> the leader of the opposition, however, accused merkel of failing to reveal the true cost of the measures to help greece and said this made
of dollars in imf funds, most important to the u.s. is continued stability in egypt, that peace treaty some three decades old between israel and egypt, absolutely vital for u.s. and western interests. kate? >> mike viqueira at the white house tonight, thank you. >>> another hot spot the white house is keeping an eye on, the situation in israel and gaza, where a three-day-old cease-fire is still holding tonight. amid the rubble, there are signs life is starting to get back to normal, though there are also lingering worries about how long it will last. we get our report tonight from nbc's aymin moyheldin in gaza. >> reporter: for the first time since gaza took over the strip six years ago, israel's navy eased the blockade that prohibited boats from fishing beyond three miles from shore. now they can go twice as far says gaza's fishermen syndicate. and near the border with israel today, farmers were allowed access to land that for years had been off limits. another sign that life was slowly returning to normal, tens of thousands of students went back to school today. amid the ruins of israel's
to play out in order to get the imf on board. i think that was the sticking point from the end because the euro group had kind of reached common ground in the phone conference call, they had over the weekend, so it was so it was convincing to give more time. that's what happened. we have a combination of measures. in the early hours of the morning, he said this is not only about money, this is also about putting greece and the whole eurozone on a more sure footing. and i think he's quite right there. this is not only about money, this is about sort of restructuring, reprofiling i think is probably the best word for it of greek debt. p what have we got? first of all, step one is the greek buy back, debt buy back program by the greek government. that has to be put on the road. then all the the other little ducks will come into a row, lowering of the interest rate, a lot more than what was actually speculated about earlier on. and stretching of greek debt up to 15 years and small are components in there that help greece along that road. so certainly more than the approach before, but not
. the finance ministers and the imf agreed to loan greece $57 billion. greece will also get billions in additional debt relief. this is the latest effort to help greece stabilize its ailing economy. however, austerity measures are also part of the bailout package. >>> more than 100,000 people packed cairo's tahrir square chanting against egypt's president who they say wants to become a dictator. [ chanting ] >> police are fighting back demonstrators with tear gas. so far at least one person is dead and almost 400 injured as a result of the violence. >>> forensic teams in the west bank city of ramallah have exhumed the body of yasser arafat. a big blue tarp surrounded his grave as workers drilled through layers of concrete to reach the tomb. a murder investigation began last summer after a swiss lab found high levels of a deadly radioactive substance on arafat's clothing. now investigators have taken samples from his remains to determine if he was in fact poisoned. >>> heavy rains are flooding the uk. take a look. people were forced from their homes as streets turned into rivers in wa
represent our country's interests, and it is far too passive with regards to the troika -- brussels, the imf, and the central bank. >> at the military base in lisbon, little remains of the once proud seafaring nation. a few frigates, a couple of submarines. the military has also been hit by the cuts. members are equipped with year that has long been outdated. these naval infantry are still carrying guns from the 1970's. professional soldiers have already taken a pay cut of up to 30%. an officer gets 500 euros a month less before tax. there have been few promotions. discontent among the ranks is growing. some of their leaders are putting a brave face on it. >> of course we have had cuts. but the naval infantry's task is to face difficult missions, so we will manage this situation as well. >> portugal's military has long been an important part of the country's history. on april 25, 1974, this song was played on the radio. it was the signal for the army to occupy lisbon, and the largely peaceful uprising marked the end of nearly 15 years of dictatorship. in all their joy, portuguese people pres
the imf to commit four $0.8 billion in loans with billions from the european union and maybe some money from us, depending on congress, to follow. that is a boost to his economy. again, he has to show results on the ground. he has to do two different things. show his government is legitimate to. and he has to show he can build jobs and clean up the trash and produce safety and the streets. >> there has been some successes as well. thank you for coming in. now to the mystery in the west bank, the body of yasser arafat was exhumed a few hours ago so the scientists can find out if the leader was poisoned to death. the move follows a documentary which reported that traces of the radioactive elements polonium had been found on his clothing. eight years after his death, what could this investigation uncovered? we have this report. >> it looks down from billboards and posters. the man who dominance -- dominated politics for decades. revered by most and reviled by many israelis, yasir arafat died in 2004 after falling suddenly and violently ill. eight years later, and beyond prying eyes, his to
but hillary clinton has been discussing with egyptian officials the fact the law of our aid to the imf and they have to strike a deal and strike an accord. we are waiting on confirmation. there are reports of a cease-fire. we heard this yesterday and we will bring that breaking news when we get it. now we go to the stock market as we do every 15 minutes, nicole petallides, 4 of the stock exchange every 15 minutes. a lot of traders are leaving town. what do you think? nicole: and look at a full day run rate. looks ok but two hundred million shares here at the lunchtime hour and volume has been somewhat light and we have a 200 point gain monday and looking at winning weeks of our on wall street is what. drug stocks to the upside. major market averages are higher. banking index is falling back. traders are taught to as far as the trend of this market four week 0 of selling and despite a gain on monday they still think if you were buying around these levels you would end up with a winning portfolio. mark neumann was saying that. take a look at salesforce.com. the software provider has quar
and just before, he had signed a deal with the imf for a $4 billion loan program. he thought he had enough credibility now to go after the judges that it was rumored would somehow control his own powers on december 2nd. what he undermined and failed to understand that this is a new egypt in which nobody with get away with that level of power around them without the street rising to be the check and balance we've seen happen over the last three days. >> what is your point of view on this? is this something people in egypt will accept? >> definitely not. at least a broad segment of our population is not accepting it and is not accepting it for good reasons and key reasons. one, we have lived for 60 years under presidential sweeping powers and we have suffered from them. secondly, we elect democratically our presidents who acquire authorities which are more than enough for him to be an active president in shaping egyptian politics, domestic politics and he does not need additional authorities. thirdly, egyptians have always held the judicial branch of government in high regards and these are
they will basically lend greece the money to payhemselves back. melissa: yeah. >> what the imf would really like to see is, there are real losses here. there are real losses. creditors have lent money that is essentially bad. just like in a bankruptcy sometimes the lenders have to take a haircut. and what the imf would like to do is for the lenders to take a haircut but those lenders are the sovereign countries of europe and their politicians, they do not want to take that haircut. melissa: every time i have an economic debate with someone like all the time, they want to use greece as the example for their argument. have you noticed that? both sides say if we do what you want we'll turn into greece. if we cut spend drag mat i canly because of the fiscal cliff we're going to turn into greece. if we, keep spending or we raise taxes, if we don't pay our bills, what, how are we most like greecc? who is right in that argument? >> well, greece has rrently a debt of about 190% of their gdp. melissa: woof. >> what they're trying to do, is is air aspiration to get it down to 120% the question they do tha
in their budgets. they are frying their budgets on this, and the imf has actually asked egypt to control this. and if you take a look into the history of subsidies of egypt, whenever the imf has asked them to take subsidies off, there have been problems; '77, '87, you name it. there is a chance for the united states to possibly advise on targeted subsidies for energy, but then again when we think about it, are we really good at that ourself? not really. if these subsidies are taken off in an awkward fashion or too quickly, there will be trouble in the streets. much like the subsidies on bread or anything else. it's a pocketbook issue. the revolutions were, in many ways, pocketbook issues. unemployment, shortages of bread -- remember the bread riots just before this whole thing started? and what was the problem? unemployment and a dreadful economic situation for most of the youth. even though many people may say that the macroeconomies of some of these countries are doing well, they do not point to the life of the youth. it's the microeconomics of desperation. walk around shubra and cairo or t
that what the imf expects is a "real fix, not a quick fix to the greece debt woes." so anything that we get on this disbursement of funds is going to be critical. she says all of greece's partners share the same objectives to put greece's program back on track. >> it's a fascinating clash, isn't it? because it's the ones that are hard on austerity in the north of europe who want the imf involved for the cloak of respectability, but they don't agree with any of the imf's policies. >> right. >> i don't know where that one's going. that's going to be interesting. meanwhile, italy is on track to meet its borrowing targets. the result will be released at around 11:10, 20 minutes from now. the treasury is auctioning up in bonds between 2015 and another 1.5 billion. you've got to remember, this time last year as mr. berlusconi was leaving office and mr. monti was arriving, we were wondering how they'd get through 2012. >>> a couple of earnings now to bring you this morning. prudential has just edged analysts' expectations with a 13% rise in new business profit to $1.7 billion pounds. strong growth
. the imf would not just like to put the debt horizon out further to 22 unless something else gives. lagarde made it quite clear that she thinks public sector involvement is now essential and should not be postponed any further. and that maybe we should get a lowering of the interest rates. lower of the interest rate i think is something the euro group could well live with. but the ecb has at least indicated some members of the governing council that might be it should be talked about and that would be a big chunk if there could be any movement on there. so it sha make up an interesting discussion indeed. last time we asked him are you going to reach an agreement today on the 20th and he said yes, well. and we said are you confident. yes, because we must. there is a logic in there, but doesn't necessarily mean we get it. >> in the short term, extending interest rates seems alike lie route. longer term, suggests there has to be a forgiveness of debt. and i suppose what we're looking at, if you look at it from a political perspective, how you get to that position so that it's okay for the poli
, but it may also be that the imf pulls out because for the imf to deliver more funds to greece, they need to on ensure the sustain ability of the plan. clearly for them, this is not happening. and the debt sustainability as of now not insured. i do think end at the end some form of agreement with light forgiveness of the extension, the terms, none of this will be enough to put greece under a sound path. so i think that this will not seize to be an issue until we have a serious restructuring of the greek debt. >> okay. thanks for that. have a good week. edward barack says he's quitting political life. he will remain defense chief until after the next set of elections. right now it's time for today's edition of the global markets report. european stocks having a pretty good week last week we are weighted to the down side after that good week. dean klein ye 7:2 at the moment, but not a bad week at all. ftse up nearly 4% last week, up 5% for the dax, 5.6% for the cac. ftse down a third, spanish yields pretty low reading. well away i suppose from the 6% mark is what i'm saying. ten year bund y
plus debt forgiveness plus an imf deal but also the world of public opinion is also against this kind of move by mr. morsi. >> both morsi and his opponents are saying that his move is terror. >> we will not leave until morsi and his regime leave. >> a meeting announced for monday between president morsi and the supreme judiciary council could signal the first hint of compromise but for now neither side is backing down. in cairo, steve harrigan. >>> there's a report that long range iranian rockets are on the way to gaza. according to the sunday times, an israeli spy satellite spotted rockets and weapons being loaded. the time sides an unnamed israeli source who claims rockets which were used to hit telaviv in the latest con -- conflict. iran supplies rockets to hamas between a tunnel between egypt. >>> people are lined up in rows after a fire in a garment plant. the factory made garments for wal-mart and other western outlets. since 2006, at least 600 workers have died in factory fires in bangladesh. >>> catalonians argue that they spend more in taxs in madrid than they get back. the
and counterproductive. >>> new this morning, sex case settled. the former imf chief reaches a deal with the hotel maid who had accused him of rape in a new york hotel room. >>> and stormy surf. they are hanging ten and loving the pineapple express in southern california. but further north, the snow is now being measured in feet. >>> and good morning, everybody. i'm rob nelson. >> and i'm sunny hostin, in for paula faris. we begin with mystery winners of the biggest powerball payday ever. this morning, we still don't know for sure who will split the $587 million jackpot. >> it's not us, though. but it already looks like we have gotten a glimpse of one of the two winners, just as he learned the good news himself. abc's tahman bradley joins us from washington with the latest. certainly, this picture tells the story. good morning, tahman. >> reporter: oh, this is remarkable stuff, rob and sunny. now, the lottery officials are tight-lipped. but speculation is growing. a missouri man has come forward. and you're about to see video of another guy at the moment he realizes he's rich. could this man be america
billions from us. they want billions from the imf. >> well, that's the way you do it. is that the egyptians also have a stake in this not getting out of hand. israel doesn't want the relationship to break down totally. egypt doesn't want to forfeit its relationship with us, $4.8 billion sitting there in the imf, the $2 billion annually. >> the imf's not going to give them the money if they are seen as being sponsors of hamas, are they? >> that's why this is the balancing act. what we have to make clear to the egyptians is you're no longer simply a party. you're now the government. you're going to rein in people over whom you have some influence. >> is the president passing that message along to morsi and the egyptians? >> i would hope so. the age of unconditional american relationships with a lot of these regimes is over. remember a few months ago during the campaign, the president was asked in the telemundo interview, he was asked, do you consider egypt an ally or adversary and he basically said neither? what we've done, whether it's pakistan, egypt, conditional relationships, it's going t
much. and of course there's the important role of the imf and whether the imf is itself willing to give way. but ultimately we do have a hard deadline. greece is going to run out of cash very soon if it doesn't get the additional financing. and therefore that is really concentrating minds. so on balance, it looks like there will be some kind of agreement at the euro group next week in which case that could be a boost on confidence and of course we have to when we think about next monday think about what the news might be out of caledonia. >> let's eye brokebring in silv brussels. i don't know whether you've heard the details and what you must have seen. they're talking this source about a greek did you tell buy back completed by the year end. 9 billion profit, 8 billion in interest rate cuts, might extend maturities, as well. >> this was always the mix that was on on the table in terms of the numbers. w50e67 heard various numbers floating around. was always a mix of lower interest rates, debt buy back program, redistribution of 9 billion in terms of profits was actually an option. it's
been preferable if these adjustments had occurred before the eu imf programs had to be put in place in some of these countries. the gains in cost competitiveness responded only to adjustments in relative wages. productivity matters. in low productivity sectors, labor shedding as increased aggregate productive, particularly ireland and spain. we expect the progress in structure reforms especially those that improve the function of the labor markets and product markets will add lower unemployment and facility new employment opportunities. the reform momentum has been 34r5 particularly pronounced in some countries which many cases coincide with those countries that face the largest adjustment needs. despite the adjustment in relative unit labor cost, the overall price adjustment, however, has been much less pronounced. and there is clear evidence that increasing profits contributed to a large extent to upward pressures on prices in some countries. it is of paramount importance to address the lack of competition in a number of areas with strong vested interests. this is imperative to en
to the streets. the documented in bid a anger over morsy's newly founded powers. it looks like former imf chief dominique strauss kahn will be settling with the van had made that accused him of sexual assault last year. those are your news headlines. it is back to melissa and lori. melissa: thank you so much. will we avoid driving off the fiscal cliff if we just paid a little more for the gas to get there? we are looking for revenue under every rock here. raising the gas tax is the latest. tom kloza joined those on the phone now. >> i think it is probably something that is sensible to look at. melissa: what works? this is incredibly regressive. i cannot imagine democrats embracing this. this will hit lower income americans the hardest. >> in the rural south and the rural midwest. it has not been increased since 1993. it is a fraction of what you see. here is a thought. if you really believe and i do believe that we are probably going to be much more dependent on foreign oral and have two purdue as oil going forward, there may be a way to index it towards those u.s. numbers. melissa: is the econ
will get almost $10 billion from the imf and united states. we could whole the money? >> the imf money has been agreed upon i think for some $4.5 billion and u.s. assistance is under congressional authority. a lot of that goes to the military. i think the military has had a long relationship with the united states and it will be interesting to see what they feel about these changes, as well. >> the military and ministry of interior is the only thing that morsi hasn't taken over yet. thank you very much for being here. >> heather: coming up teachers groups say bobby jindal's plans to use tax dollars to send kids to private schools is unconstitutional. legal battle over school vouchers in louisiana is just ahead. stay with us. gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus
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